staffing shortage

Revenue Multiples Vs. EBITDA Multiples

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Plus how to factor in RIAs.

By Rory Henry
The Holistic Guide to Wealth Management

Why are accounting firms measured in revenue multiples while most other businesses are measured in EBITDA multiples?

According to Allan Koltin, accounting industry transaction guru, there is no better reason than because that’s how we’ve always done it in the accounting profession.

MORE Rory Henry and The Holistic Guide to Wealth Management
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“Accounting firms have zero EBITDA; they clear out the register every year,” noted Koltin. “When I talk to firms about private equity, I have to walk them back and explain how you’re going to create your own EBITDA. And the biggest piece of it is what we call the ‘scrape of partner compensation.’ You’re making $1.2 million. Can you live on $800,000 if we move that extra $400,000 into an EBITDA category and put a multiple of 7x to 11x on that and get capital gain?” asked Koltin.

“Partners 55 and older love it. Partners who are 35 are not so sure.”
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Barometer: Firms Brace for a Tough Tax Season

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Busy season 2026 clouded by regulatory shifts and client pressures.

Ready or Not: Less than half are ahead of last year’s preparation for Tax Season 2026. On the Front Lines: Clockwise from top left, Cicero, Saul, Krueger

By CPA Trendlines Research

Fewer than half of accounting firm leaders report entering the 2026 busy season in better shape than a year ago, according to the new CPA Trendlines Busy Season Barometer.

Join the survey; Get the answers

MORE Tax Practice | TaxPlanIQ Escalates the Battle in Tax Planning Software | How TaxDome and Juno Just Changed the Tax Tech Game | DOGE, Palantir and the IRS: What Could Go Wrong? | Five Million IRS Refunds Delayed by Staff Cuts | IRS Phone Stats Improve—Unless You’re a Tax Pro | ‘Kryptonite:’ IRS Buried under 8 Million Paper Returns | Mounting Delays Undermine Public Trust in IRS Refund Process | Brace Yourself: IRS 25% Staff Cuts Mean Big Trouble for Tax Pros and Clients

The readiness gap, evident across firm sizes and specialties, sets the tone for a season overshadowed by heightened concerns about tax law changes and mounting pressure on margins.

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Emerging Trends Are Reshaping Advisory-CAS

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Don’t just buy technology; strategically activate it.

By Hitendra Patil
Client Accounting Services: The Definitive Success Guide

Advisory is changing rapidly and it is not just in what firms offer, but in how clients think, how technology fits in and how pricing evolves. This article examines the emerging shifts redefining the Advisory-CAS world, from burnout and outdated service models to the increasing demand for proactive, strategic insight. You will see what’s fading and what’s rising, and where to focus to stay ahead.

MORE by Hitendra Patil
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Most surveys focus on direct responses, but the real value comes from analyzing what those responses reveal, especially in context. The nuances, patterns and implications hidden within the answers often provide the most strategic insights, particularly when you connect the dots across service lines, firm models, client dynamics and workforce pressure points.
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Advisory-CAS Ascending: What Research Reveals About the Future

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Clients have said what they want. Are you ready to provide it?

By Hitendra Patil
Client Accounting Services: The Definitive Success Guide

Understanding what advisory really is is only half the challenge. The real question is: “Where is it all heading?”

What are the hard truths behind the excitement, and why do so many firms still feel like they are in the early stages when it comes to client advisory services? Let’s take a closer look at what the data tells us about the exciting future of advisory services.

MORE by Hitendra Patil: The DNA of Advisory-CAS | Advisory Is Not Consulting | What Exactly Is Client Advisory Services? | Review Your CAS Offerings | CAS Prospects Want Proof? You’ve Got That | What AI CEO’s Warning Means (and Doesn’t) for Accountants | Ditch the Sales Pitch | How to Get CAS Clients to Blow Your Horn | Four Questions for Choosing CAS Clients | What Is Your Firm’s Marketable Value? | Seven Tips for CAS Marketing | Twelve Things That Kill Your CAS Profits
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The numbers don’t lie: CAS is no longer just a trend. It is a fundamental shift.

Let’s explore insights from one of the biggest CAS research surveys ever done. This rich and meaningful data draws us in and inspires us to think more creatively about how advisory services can evolve in the years to come.
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Chris Vanover: Audit, Now with 100% Less Misery | The Disruptors

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CPAClub is doing what few dared: killing the billable hour, shrinking the workweek, and proving that audit doesn’t have to suck.

Originally published Oct. 4, 2023.

Subscribe to CPA Trendlines podcasts anywhere: Apple, Google, Spotify, iHeart, Deezer, Amazon Music and Audible, Player FM, Audacy, Gaana (India), and Boomplay (Africa).
See The Disruptors

The Disruptors
With Liz Farr

Public accounting has long had a reputation for being slow to change, but in the world of audit, that pace has been glacial. Chris Vanover, CPA, founder and president of CPAClub (formerly AuditClub), is here to challenge that status quo. In this episode of The Disruptors, Vanover shares how he’s rebuilding audit from the ground up—ditching billable hours, crushing burnout, and making accounting cool (and flexible) again.

CPA TRENDLINES CELEBRATES: The 100th Episode of The Disruptors

MORE STREAMING: Erica Goode: Build a $200K Firm in 15 Hours a Week | Randy Crabtree: Live at the Intersection of Passion & Skill | McClelland and Telka: Women Ready to Rewrite the Rules of Accounting | Jacob Schroeder: AI Won’t Replace Accountants—But It Will Reveal Who’s Replaceable | Ditching Corporate America: The Bold Story Behind PBS Accounting’s Rapid Rise | Jean Zick: Happy Team = Happy Clients | Breslin & Greathead: Be a Client Advocate | Dominic Piscopo: Clear Pay=Bargaining Power | Debbie Kilsheimer: Stop Thinking Small |

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And the transformation doesn’t stop with audit. CPAClub has expanded into tax and advisory, now offering a broader array of subscription-based solutions for CPA firms.

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